INDIANAPOLIS (WTHR) - A mansion once owned by Hoosier businessman Steve Hilbert is now being sold by President Donald Trump.
The sale is raising some concerns.
13 Investigates reporter Sandra Chapman went to the mansion in Saint Martin when Hilbert's company, Conseco, filed bankruptcy in 2004. At the time, there were questions about Hilbert's estate and settling debts he owed.
His mansion, called "Le Chateau des Palmiers," or "The Castle of the Palms," ended up selling to his long-time friend, Donald Trump, in 2013. Boasting French architecture, countless rooms and bathrooms, the asking price was just under $20 million.
- RELATED: See the listing at Sotheby's
Four years later, now-President Trump has put the estate up for sale with Sotheby's Realty. The Washington Post reports the asking price is now at $28 million, with not many updates since the Hilberts sold it.
In January, when asked why Trump would not divest his real estate company, his lawyer claimed someone could try to buy it for more than it was worth to gain favor with the new president. The same concern has arisen with the sale of the Saint Martin property.
The other concern is the property, if listed at $28 million, is around $10 million more than similar properties on the island. That means there is profit that some could argue President Trump is trying to make off of his name.
